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M/s Swarovski India Pvt. Ltd. vs Deputy Commissioner of Income Tax (Delhi High Court) – Reopening of Assessment Beyond Four Years Invalid in Absence of Failure to Disclose Material Facts
Facts of the CaseThe petitioner, M/s Swarovski India Pvt. Ltd.,
filed its return of income for Assessment Year 2005-06 claiming deduction under
Section 10B amounting to ₹6,34,90,243/- in respect of its 100% Export Or...
Oriental Bank of Commerce vs Additional Commissioner of Income Tax (Delhi High Court) – Reassessment u/s 147/148 Invalid Where No Addition Made on Recorded Reasons | Change of Opinion under Section 36(1)(viia)
Facts of the Case
The original assessment for AY 2005-06 was completed on 20.03.2006.
Subsequently, a notice under Section 148 dated 29.03.2012 was
issued beyond four years from the end of the relevant a...
The Commissioner of Income Tax-II vs Kuldeep Singh | Section 54 Income Tax Act – Exemption on Investment in Under-Construction Flat Allowed by Delhi High Court
Facts of the CaseThe assessee sold residential property situated at
New Friends Colony, New Delhi through a sale deed dated 3 June 2005 for
consideration of Rs.2 crores and claimed exemption under Section 54 of the
In...
M/s Bharat Furnishing Co. vs Commissioner of Income Tax & Anr. | Penalty under Section 271(1)(a) for Delay in Filing Income Tax Return – Delhi High Court
Facts of the Case
The assessee, M/s Bharat Furnishing Co., was a partnership firm
engaged as a government contractor.
The return for Assessment Year 1984-85 was required to be filed on
or before 31 July ...
Globus Infocom Ltd. vs Commissioner of Income Tax Delhi-IV | Delhi High Court | Section 263 Revision Invalid Without Proper Finding | Section 36(1)(ii) & Section 80-IC | AY 2007-08
Facts of the CaseThe assessee, Globus Infocom Ltd., filed its return
for Assessment Year 2007-08 declaring income under normal provisions and book
profit under Section 115JB. The return was selected for scrutiny assess...
Dalmia Cement (Bharat) Ltd. vs Commissioner of Income Tax | Delhi High Court | Reassessment u/s 147/148 – Addition on Alleged Unaccounted Import Transactions | AY 1982-83
Facts of the CaseThe assessee, Dalmia Cement (Bharat) Ltd., was
issued an import licence permitting import of goods valued at Rs. 5,00,000/-.
The assessee claimed that the licence had been assigned to M/s United Engine...
Director of Income Tax (International Tax) vs Copal Research Limited, Mauritius & Connected Matters | Delhi High Court | Taxability of Indirect Transfer of Shares under Section 9(1)(i), Explanation 5 & Section 195 of Income Tax Act
Facts of the Case
Copal Research Limited (CRL), a Mauritius company, sold its entire
shareholding in Copal Research India Private Limited (CRIL) to Moody’s
Group Cyprus Ltd. under a Share Purchase Agreeme...
Director of Income Tax (International Tax) vs. Copal Research Limited, Mauritius & Connected Matters | Delhi High Court | Taxability of Indirect Transfer, India–Mauritius DTAA and Section 195 TDS Liability
Facts of the CaseThe Revenue filed writ petitions challenging the
AAR ruling dated 31.07.2012.The dispute arose from multiple transactions
involving the Copal Group and Moody’s Group:
Copal Research Limited (Maurit...
Madhukar Khosla vs. Assistant Commissioner of Income Tax: Jurisdictional Requirement of ‘Tangible Material’ for Reopening Assessment Under Section 147
Facts
of the CaseThe
petitioner, Madhukar Khosla, filed income tax returns for the Assessment
Year (AY) 2006-07 on October 30, 2006. The case was selected for scrutiny,
and a questionnaire was issued to which the pet...
PepsiCo India Holdings Pvt. Ltd. vs. Assistant Commissioner of Income Tax: Delhi High Court Quashes Section 153C Notices Due to Lack of "Satisfaction"
Facts
of the Case
Search Operation: A search and seizure
operation under Section 132(1) of the Income Tax Act, 1961, was conducted
on the Jaipuria Group on March 27, 2012.
Seized Documents: During the s...